Mumbai: Prime Minister Narendra Modi shocked the country on 8 November by the demonetisation of Rs500 and Rs1,000 notes, which accounted for 86% of the cash in circulation. The move was aimed at cracking down on the shadow economy, but has brought India’s cash economy to a virtual standstill.

The government and the Reserve Bank of India (RBI) have since taken a slew of measures to manage the shortage of cash in the economy as a result of demonetisation. They are detailed below:

25 November

- RBI says old currency notes can be exchanged at RBI branches

24 November

- Government stops over the counter exchange of old banknotes; can only be deposited